Choosing a Travel Insurance Policy Amid COVID-19 – Business Today

Published By: Business Today

Published Date: 15-06-2022

Amid uncertainties of the COVID-19 pandemic, choosing the right travel insurance policy has become essential. It ensures safety and financial protection during trips. Rakesh Jain, CEO of Reliance General Insurance, emphasises the need to evaluate policies carefully to address challenges caused by the pandemic.

He further highlights that policies with coverage for trip cancellations or delays are crucial. This is because sudden changes in travel plans due to unforeseen circumstances like airline disruptions or government restrictions can lead to significant financial losses. Comprehensive medical coverage, including treatment for COVID-19, is another key factor. Such coverage protects travellers from significant medical expenses if they contract the virus while abroad.

He also advises considering the duration of the travel policy. For infrequent travellers, single-trip policies are enough. However, frequent flyers benefit more from multi-trip policies that offer broader coverage over a year. Additionally, Jain stresses the importance of understanding policy exclusions and coverage limits to avoid surprises during claims. This includes ensuring the policy covers essential needs like emergency evacuation and hospitalisation.

Jain concludes that a well-chosen travel insurance policy not only provides peace of mind but also ensures financial stability in case of unexpected events. In today’s uncertain environment, travel insurance is more than a convenience—it is a necessity for every traveller.